Investment losses of GIC and Temasek

Dear Mr Tan
I am a resident of Holland-Bukit Timah GRC and follows political news of my GRC very closely before I made my choice on 7 May. I was shocked on Mr Vivian Balakrishna's response to Channel NewsAsia last night when he said the portfolio of GIC and Temasek are back to pre-crisis peak and hear him saying the following:-

"In other words, there is no loss on national reserves. They are going around claiming losses on national reserves and town council reserves are pure fabrication." by Vivian Balakrishna.

As I am a homemaker and not well versed with statistics, I decided to just do a check on the internet and with a simple touch of finger, the following report appears:-
“Temasek Holdings sold its stake in British banking giant Barclays in December and January, at an estimated loss of between 500 million (S$1.2 billion) and 600 million pounds, sources told the Straits Times”. (Straits Times, 4 June 2009)

Lower gains made by Temasek due to the losses incurred does not equate to NO LOSS. No wonder he blows the YOG buget. Thanks to Vivian who has been helping me on my decision.

Heather